Schlumberger to Buy Cameron in $14.8 Bln Deal
Schlumberger Ltd will buy oilfield equipment maker Cameron International Corp in a deal valued at $14.8 billion to streamline supply chains and offer cost-effective services to oil and gas customers who have slashed budgets. The deal is the latest in a line of mergers in the energy industry as companies struggle to cope with a 60 percent plunge in global crude oil prices since June last year. Most oil and gas producers, including oil majors Royal Dutch Shell PLC and Total SA, have drastically cut spending, which has hurt demand for oilfield services companies. Schlumberger
OTC Names Technology Award Winners
, we are recognizing the fact that companies both big and small are developing innovative technologies and creative solutions to meet the world’s energy demands.” Spotlight Winners for 2015: Baker Hughes, producer of MultiNode all-electric intelligent well system Cameron International, producer of Mark IV High-Availability (HA) BOP Control System FMC Technologies, producer of Annulus Monitoring System Halliburton Energy Services, producer of RezConnect Well Testing System Oceaneering International, producer of Deepwater Pile Dredge Oceaneering International
Report: Faulty Blowout Preventer Contributed to BP Spill
require a risk reduction target or documented rationale of hazard control. That means companies can do a weak analysis that doesn't identify the operating condition of critical safety equipment - like a BOP - and still comply with the rule, the board said. In 2011, the maker of the BOP, Cameron International Corp , agreed to a $250 million settlement with BP to help pay for costs associated with the spill. (Reporting By Kristen Hays; Editing by Terry Wade and Cynthia Osterman
February 2024
